Question

Please Please Help.

On the morning of June 4, the stock of Nagasaki Corporation opened at a price of $33 3⁄8 per share. By noon, the price had risen $4 1⁄4 per share. By the end of the day, the price had fallen $8 7⁄8 per share from the price at noon. What was the closing price for the day?

Answer 1

The answer is 28 3/4

Answer 2

$28 3/4

Explanation:

One way of doing this is to sum up the increases and the decreases of the price, separately. One then adds the increases to the beginning price ($33 3/8) and subtracts the decreases from this sum:

$33 3/8 + ($4 1/4) - ($8 7/8), where $33 3/8 is the beginning price,

$4 1/4 is the sum of the price increases

for the day, and $8 7/8 is the sum of the

price decreases for the day.

Then we have:

$33 3/8 + $4 2/8 - $ 8 7/8

Here we need sum up the beginning price and the price increase for the day first:

$33 3/8 + $4 2/8 = $37 5/8

We cannot subtract $8 7/8 from $37 5/8 without borrowing. Borrowing, we get:

$36 13/8

and from this we subtract $8 7/8:

$36 13/8

- $ 8 7/8

----------------

$28 6/8

This can be reduced to $28 3/4. This was the closing price.